Start a Charleys Cheesesteaks & Wings Franchise in 2024

2024 Franchise 500 Rank: #76 Ranked #89 last year

Initial investment: $200K - $907K

Units as of 2023: 783 25.1% over 3 years

Since its founding in 1986 and subsequent franchising in 1991, Charleys Philly Steaks has grown into more than 700 locations, with legions of diehard fans across the country. Charleys Philly Steaks strives to offer 100% USDA choice steak, a no-frills menu, and unparalleled customer service. Charleys Philly Steaks is one of the biggest Philly steaks franchises in the country.

Intending to hit 3,000 stores, Charleys Philly Steaks has an ambitious plan. It is always looking for new franchisees to help it reach its goal. Franchise reinvestments are responsible for more than half of its growth, so if you’re looking for a tested and proven business opportunity, Charleys Philly Steaks may be a catch.

Why You May Want to Start a Charleys Philly Steaks Franchise

Charleys Philly Steaks strives to offer new restaurant aesthetics, innovative offerings, organized operations, and above-standard franchise training, Charleys Philly Steaks is ready to take you to the top.

Charleys Philly Steaks has the most significant advantage with its standout menu--a sure cut above the usual chicken, pizza, and burger trio that competitors seem to be stuck with. Charleys Philly Steaks targets the core of the otherwise underserved authentic Philly steak that diners demand.

Suppose you’re looking for a business that offers a favorite yet rarely served comfort food, with delivery, curbside pick-up, and all the necessary features of a modern QSR. In that case, Charleys Philly Steaks may be the franchise you wish to open.

What Might Make a Charleys Philly Steaks Franchise a Good Choice?

Charleys Philly Steaks has been ranked in Entrepreneur’s Franchise 500 many times in the past several decades. This ranking is based on an evaluation of more than 150 data points in the areas of costs and fees, size and growth, franchisee support, brand strength, and financial strength and stability.

To be part of the Charleys Philly Steaks team, you should make sure you’re financially ready for an initial investment that will include a franchise fee and other startup costs. You should also prepare yourself for ongoing fees that will include advertising, royalty, and potential renewal fees.

As you ponder if opening a Charleys Philly Steaks franchise is the right decision for you, make sure you take time to explore the opportunity. Research the brand and your local area to see if a Charleys Philly Steaks franchise would do well in your community. While competition is healthy, too much of it may not allow for the most possible growth.

How to Open a Charleys Philly Steaks Franchise

To get started, submit an inquiry form. Before making any financial commitment or signing an agreement, you must perform your due diligence and establish if this is the right opportunity for you.

Speak to existing franchisees and ask questions to the Charleys Philly Steaks team. If your net worth and available liquid capital match the brand’s requirements, you may qualify to open a Charleys Philly Steaks franchise, and you can get started with an initial investment. The Charleys Philly Steaks team may teach you tips and tricks while providing comprehensive training at company headquarters in Columbus, Ohio office until you’re ready to roll out your own Charleys Philly Steaks franchise.

Company Overview

About Charleys Cheesesteaks & Wings

Industry	Food
Related Categories	Philly Cheesesteak Sandwiches, Sandwiches
Founded	1986
Parent Company	Gosh Enterprises Inc.
Leadership	Candra Alisiswanto, EVP
Corporate Address	5000 Arlington Centre Blvd., #5300 Columbus, OH 43220
Social	Facebook, Twitter, LinkedIn, Instagram

Business Overview

Franchising Since	1991 (33 years)
# of employees at HQ	100
Where seeking	This company is offering new franchises throughout the US.
# of Units	783 (as of 2023)

Information for Franchisees

Here's what you need to know if you're interested in opening a Charleys Cheesesteaks & Wings franchise.

Financial Requirements & Ongoing Fees

Here's what you can expect to spend to start the business and what ongoing fees the franchisor charges throughout the life of the business.

Initial Franchise Fee Definition: The initial fee paid to a franchisor to join their system What you need to know: Found in Item 5 of the FDD, this may be a flat fee, or may vary based on territory size, experience, or other factors.The franchise fee is an up-front (one-time) cost that a new franchisee pays to the franchisor. This fee is usually due at the signing of the franchise agreement and covers the right to use the franchisor's trademarks, name, and related business systems.	$24,500
Initial Investment Definition: The total amount necessary to begin operation of the franchise What you need to know: The initial investment includes the franchise fee, along with other startup expenses such as real estate, equipment, supplies, business licenses, and working capital. This is outlined in a chart in Item 7 of the FDD, showing a range of possible costs from low to high.	$199,967 - $907,012
Net Worth Requirement Definition: The minimum net worth you must have in order to qualify to become a franchisee of this company What you need to know: Net worth is the value of a person's assets minus liabilities. Assets include cash, stocks, retirement accounts, and real estate. Liabilities include items like mortgages, car payments, and credit card debt.	$500,000
Cash Requirement Definition: The minimum liquid capital you must have available in order to qualify to become a franchisee of this company.	$175,000
Veteran Incentives Definition: A discount or other incentive offered to military veterans who buy a franchise with this company.	50% off franchise fee
Royalty Fee Definition: A ongoing fee paid to the franchisor on a regular basis. What you need to know: Most franchisors require franchisees to pay an ongoing royalty fee, which is detailed in Item 6 of the FDD. This fee is typically a percentage of weekly or monthly gross sales, but may also be a flat weekly, monthly, or annual fee.	6%
Ad Royalty Fee Definition: An going fee paid to the franchisor on a regular basis to support advertising or marketing efforts. What you need to know: This may also be called advertising fee, marketing fee, brand fund fee, and more, but the basic purpose is the same-- to support promotion of the brand systemwide. As with the royalty fee, it is detailed in Item 6 of the FDD, and can be a percentage of weekly or monthly gross sales or a weekly, monthly, or annual fee.	1%
Term of Agreement Definition: The length of time your franchise agreement will last. What you need to know: Franchise terms are typically anywhere from 5 to 20 years in length, but are sometimes instead dependent on factors such as the term of your lease. Once your term is up, you may have the option to renew your agreement, typically for a smaller fee than the original franchise fee.	10 years
Is franchise term renewable?	Yes

Financing Options

Some franchisors offer in-house financing, while others have relationships with third-party financing sources to which they refer qualified franchisees.

Third Party Financing	Charleys Cheesesteaks & Wings has relationships with third-party sources which offer financing to cover the following: franchise fee, startup costs, equipment, inventory, accounts receivable, payroll

Training & Support Offered

Franchisors offer initial training programs and a variety of ongoing support options to help franchisees run their businesses.

On-The-Job Training	95 hours
Classroom Training	55 hours
Ongoing Support	Purchasing Co-ops Newsletter Meetings & Conventions Toll-Free Line Grand Opening Online Support Security & Safety Procedures Lease Negotiation Field Operations Site Selection Proprietary Software Franchisee Intranet Platform
Marketing Support	Co-op Advertising Ad Templates National Media Regional Advertising Social Media SEO Website Development Email Marketing Loyalty Program/App

Operations

Additional details about running this franchise.

Is absentee ownership allowed?	No
Can this franchise be run from home/mobile unit? Definition: The business can be run from your home and/or a vehicle, and it is not necessary to have a retail facility, office space, or warehouse.	No
Can this franchise be run part time? Definition: This business can be run by the owner on a part-time basis (less than 40 hours per week) and/or as a side business; it is not necessary for the business to be open/run full-time.	No
# of employees required to run	20
Are exclusive territories available? Definition: An exclusive territory is a fixed area in which you are given the right to operate and in which no other units of the same franchise may be opened. What you need to know: Territory size may be based on factors such as radius, population size, zip codes, and more. Details can be found in Item 12 of the FDD.	No